Reports Q3 revenue $6.61M, consensus $4.08M. Reports total current contracted backlog of $62.2M to be executed in next 12 months. "Our investments in product development, sales, marketing and government relations combined with a significant increase in the urgency for sustainable and reliable EV charging infrastructure, driven by the relentless and accelerating move to electric transportation, has resulted in an order of magnitude increase in the orders we are receiving," said Desmond Wheatley, CEO of Beam Global. "We have been preparing for this moment and have leveraged our experience, facilities and balance sheet to be able to accept and deliver on these new orders. Our sales team continues to drive pipeline growth, and I believe that what we are seeing, based on these growing fundamentals and EV trends, is just the beginning of an extraordinary rate of growth which we expect to continue for many years to come. Acquiring our own battery company and investing in factory facilities which will be able to produce over thirty times our previous best year’s volume, have positioned us to take advantage of the market conditions which make our unique products so necessary while creating a strong foundation for the even greater expansion I believe will be required in the future."
Published first on TheFly
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